NEW YORK CITY-A 1.5 million-sf mixed-use development will replace the five-story garage in Long Island City. The city's Economic Development Corporation expects construction to begin in fall 2002.
NEW YORK CITY-The worst construction accident in years killed five construction workers and sent more than a dozen people to the hospital yesterday afternoon. The facade of a 20-story office building collapsed, knocking some workers seven stories to the ground and trapping others in a three-story tangle of brick and steel.
NEW YORK CITY-By suing to limit its liability in the World Trade Center bombings, the UK-based reinsurer has removed some of the stigma associated with disputes over insurance claims related to the attacks. Nevertheless, some insurers are starting to come across with funds.
NEW YORK CITY-The project-management contract on a 60,000-sf Downtown property has been awarded to Hunter Management Corp. Exterior renovations and mechanical and electrical upgrades are part of an extensive capital-improvement program at the Fulton Street building.
LANCASTER, PA-Two 60,000-sf freestanding stores formerly occupied by the bankrupt building-supply giant are leased to a family-owned furniture retailer and a third store is sold to an investment firm and partially leased to a national housewares chain.
NEW YORK CITY-Unable to obtain final approvals on the property in time for today's scheduled grand re-opening, Brookfield Properties hopes to open its doors later this week.
NEW YORK CITY-The global brokerage firm sets up housekeeping on Madison Avenue. Its new world headquarters is a 45-story, 1.2 million-sf tower that reportedly cost $500 million to build. First new tenants will be the company's Private Client Services group.
NEW YORK CITY-Brookfield Properties announces its second major refinancing this year: a $240 million mortgage on an office complex it acquired last year. The company was scheduled to reopen one of its Downtown properties this morning, but the event has been postponed indefinitely.
NEW YORK CITY-Standard and Poors releases its good-news, bad-news view of the real estate world: REIT ratings are stable but the forecast is not; the CMBS market saw upgrades but the lodging industry will sap its strength.
NEW YORK CITY-Standard and Poors releases it's good-news, bad-news view of the real estate world: REIT ratings are stable but the forecast is not; the CMBS market saw upgrades but the lodging industry will sap its strength.
